Is South Street Seaport Next Hub for Luxury High Rises in New York?

First all-glass luxury residential building 1 Seaport is testing the waters for future developments

When L. Stephen Hill was commissioned to design 1 Seaport, the all-glass luxury residential building at New York’s historic neighborhood South Street Seaport, he wanted to make sure it would satisfy the developer, buyers and his aesthetic principles.

But he faced more challenges than he had anticipated.

“I want to work everything in relationship to the proximity of water, but there is a lot to negotiate post-Hurricane Sandy,” said Mr. Hill, a partner at Goldstein, Hill & West Architects.

Hurricane Sandy swept New York in 2012, and the South Street Seaport was one of the worst ravaged areas. Soon after, city officials adopted new building codes requiring new developments to add more safety measures for emergencies.

To meet the requirements, Mr. Hill created a two-story lobby for the 60-story building, developed by the Fortis Property Group at 161 Maiden Lane.

“All of the building mechanical systems are located at higher elevations in the tower to keep the building fully functional in another Sandy-type event,” Hill said. “The tower is tall and thin but performed well in wind tunnel studies.”

Fortis chief executive Jonathan Landau would not share the cost of development for 1 Seaport, but he did acknowledge that adding safety measures does cost more for the developer.

“It is the expense worth incurring,” Landau said. “After the devastation of Hurricane Sandy, we need take all the precautions to assure the residents to have a peace of mind.”

There are two-story entrances at 1 Seaport.Williams New York

However, the “structural negotiations” never sacrifice the architectural aspirations. Celebrated interior designer Russell Groves of Groves & Co. has tactically used water and sculptural lights to illuminate the lobbies.

The exterior of the building has twinkling glass reflecting the sky and the East River. The four-colored glass is custom-engineered to mimic the natural water flow. The residences feature hand-stained oak flooring, custom millwork and tailored floor-to-ceiling, triple-paned glass walls, which completely block out the sounds of highway and river below.

Additionally, each home is designed with a corner master bedroom and almost all include expansive harbor side terraces, which offer cinematic views of the East River and the city skyline.

As challenging as it might be to build, 1 Seaport is helping to pave the way to rejuvenate the historic Seaport District, currently defined by its 19th-century red-brick buildings. Already, the real-estate development company, Howard Hughes Corp. has committed $1.5 billion in public and private projects in the area, which include a reimagined Pier 17, Fulton Market, the Seaport Museum and East River Promenade.

Given the strong demand for waterfront residences, 1 Seaport will almost certainly inspire other residential high-rises to be built in the Seaport District. However, developers have to be very sensitive to mechanical and financial changes.

“New developments are having to safeguard their essential systems, including boilers, chillers, and elevator motor rooms,” said Eric Fleming, a broker with Compass in Manhattan. “And financially, increased flood insurance policies are required for banks to underwrite in the developments for purchasers. We didn’t see a whole lot of this prior to Hurricane Sandy.”